Phase Four Named 2019 Sustainability in Space Winner by Climate Innovations Exchange and a Finalist for Electric Propulsion in the 2019 Edison Awards

Validating customer demand, Maxwell thruster takes two prizes honoring innovators and innovations in the U.S. and abroad

EL SEGUNDO, Calif., Feb. 28, 2019 /PRNewswire/ -- Today Phase Four, a best in class provider of electric radio frequency (RF) thrusters for in-space propulsion, announced that Maxwell, Phase Four's flexible propulsion solution targeted at small satellites, has been awarded the grand prize for Sustainability in Space by Climate Innovations Exchange, World Future Energy Summit and has been named a finalist in Electric Propulsion for the 2019 Edison Awards. Climate Innovations Exchange presented the award at the annual World Future Energy Summit in Abu Dhabi on January 17, 2019. The Edison Awards, named after Thomas Alva Edison, recognizes and honors the world's best in innovators and innovations. The Edison Awards will announce gold, silver and bronze award winners at the annual Edison Awards held Thursday, April 4, 2019 in New York City.

Phase Four is creating safer, reliable, more sustainable ways of powering space transit and transportation, with the potential to significantly advance human efforts to expand into space. With customer deployments scheduled for later this year, Phase Four's Maxwell is the first turnkey RF thruster-based propulsion solution targeted at small satellite constellations and is gaining swift traction with commercial and government satellite manufacturers like Capella Space and Tyvak, Nano-Satellite Systems, Inc., a Terran Orbital corporation. Maxwell brings new small satellite constellations the performance and efficiency of traditional electric engines, while obviating the need for expensive components that have stalled high performance propulsion solutions for small satellites.

Climate Innovations Exchange recognized Phase Four at the 2019 World Future Energy Summit for significant contributions towards a sustainable future through a pioneering concept development for Maxwell. The Climate Innovations Exchange, launched in 2018, supports the UAE's Ministry of Climate Change and Environment strategy to enable the sourcing and funding of climate change solutions and technologies. Phase Four's off-the-shelf Maxwell plasma engine is safer, simpler, modular, and more affordable compared to dangerous fossil-fuel incumbent propulsion systems equipped with single use disposable high voltage systems. Phase Four's reusable electric engines lower the barrier to entry for mobility in space.

Being recognized with an Edison Award has become one of the highest accolades a company can receive in the name of innovation and business. The awards are named after Thomas Alva Edison (1847-1931) whose inventions, new product development methods and innovative achievements literally changed the world, garnered him 1,093 U.S. patents, and made him a household name around the world. The judging panel was comprised of more than 3,000 professionals from the fields of product development, design, engineering, science, marketing and education, including professional organizations representing a wide variety of industries and disciplines.

"We are honored to be recognized for sustainability in space and as a finalist for the Edison Award in our category and salute our fellow finalists for their outstanding achievements and innovations," said Beau Jarvis, CEO of Phase Four. "As missions continue to launch in-orbit and industry demand for efficient, affordable, and safe propulsion systems rise, these awards further recognize market trajectory for satellites and the momentum to create a more sustainable planet."

About Phase FourBased in El Segundo, California, Phase Four is enabling the exponential growth of satellite constellations by solving the satellite's costliest problem, the propulsion system. The company's electrodeless RF thruster is one of the highest performing plasma propulsion systems available today, and can be scaled for use from nanosatellites to small satellites to traditional, large satellites. By eliminating the most common failure points in incumbent technologies - electrodes, high-voltage electronics, and complex fabrication - Phase Four has built a system that is reliable and offers high-performance with baked-in manufacturability. Designed with tomorrow's satellites and constellations in mind, the Phase Four plasma thruster provides small satellites performance levels on par with traditional large satellites propulsion systems. Phase Four is proof that high performance can come in small packages. Visit us at: www.phasefour.io.

About Edison Awards:Established in 1987, the Edison Awards is a program conducted by Edison Universe, a non-profit 501 (c)(3) organization dedicated to fostering future innovators. For more information about the Edison Awards, please visit www.edisonawards.com.

Intraday Data provided by SIX Financial Information and subject to terms of use. Historical and current end-of-day data provided by SIX Financial Information. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.